Shaarei Orah Limited (A Company Limited by Guarantee) Company No. 06807305 Charity No. 1133528 Report and financial statements For the year ended 28th February 2023
Shaarei Orah Limited For the year ended 28 February 2023 Contents Page Reference and admlnlstratlve informalion Trustees, annual report Indopendent auditors. report Statement of flnancial activities {incorporating an income and expenditure account) Balance sheet 10 Statement of cash flows 11 Notes to the financial statements 12-19
Shaarei Orah Limited Reference and admlnlstrative information For the year ended 28 February 2023 Trustees: M M Frankel J Hager E Sternlicht Company number: 06807305 Charity number: 1133528 Registered office.. 14 Hillcrest Avenue. London, NW11 OEN Auditors: Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG www.goldwins.co.uk Bankers Natwesl 250 Bishopsgale London EC2M 4AA Pagel I
Shaarei Orah Limited Trustees, report For the year ended 28 February 2023 The Iruslees who are also directors of the ch8rily for the purposes of thè Companies Act 2006. present their report and financial statements for the year ended 28 February 2023. The Iruslees confirm that the financial statements comply with current slatulory requirements, the memorandum and articles ofassooiation and the Statement of Recommended Pradice- Accounting and Reporting by Charities: SORP applicable lo charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019). Objectives and activities The principal objectlves of the charlty are: the advancemenl of the orthodox Jewish faith and orthodox Jewish education in particular (but nol exclusively) by establishing maintaining and managing a Talmudical college for boys of the Orthodox Jewish faith in North Wesl London known as "Shaarei Orah institule" the relief of poverty, sickness and infirmity amongst th8 public at large for the public benefil, and the advancement of such other objects as are for Ihe benefit of the public and are charitable according to English law. Public benefit The Irustees continuo to operate within th6 confines of the charity objectives namely tha relief of poverty by providing grants in respect of the advancement of Jewish education. Where the trustees make grants lo institutions, they slipulale how these monies should be spent and constantly monitor Ihe effectiveness of the allocation of the resources extended through the grant funding. The Iruslees are of the opinion that this latter method of funding combines both objectives of thè charity such that through the grants to the institution. sludents who are partly able or unable to pay their fees, are also assisted. The charity's trustees have continued to comply with their duty to have due regard lo the guidan on public benefit as published by the Charity Commission when exercising their powers or duties. Achievements and performance During the year, the charily has Continued lo operate the Shaarei Orah Instilule. Shaarei Orah enables Torah observant youth who are seeking recognised and accredited secular qualifications to maintain their Torah learning in a secure environment. The organisalion combines a Bels Hamedrash Programme to allow the sludenls to continue to develop theirTalmudical studies and an Academic Study Cenlre. Full detalls of the organisation's aclivilies can be found on the web site at hllp-.Ilshaarei-orah.org. During the year, funding was provided by voluntary contributions requested from the students and donations from local individuals, businesses and charitable instilulions. The Iruslees are exceplionally grateful to all of the organisalions and individuals for their continued support of tho charity. The plans for Ihe coming financial year are very ambilious bul the trustees are working h8rd lo ensure that financial supporters are kept informed of the charily's progress and the funds pledged for the year will allow the trustees to carry out their plans.
Shaarei Orah Limited Trustees, report For the year ended 28 February 2023 Flnancial review Flnanclal position The Slalement of Financial Activities shows deficit for the year of £8.322 (2022 Deficit.. £13,347) and lolal funds carried forward of £28,354 (2022.. £36,676). There were no restricted funds as at the year end. Prlnclpal fundlng sources The Charity continues lo be dependant on voluntary donations. Investment pollcy The charily currently has a bank current account which was opened after the period end. These are the only inveslmenls to which the charlty has tille. Reserves pollcy The reseNes policy lakes into account the need lo deal with short-term volalilily of income without having lo suddenly cul expenditure. The trustees would aim to retain funds equivalent to 3-6 months expenditure to take account of any potential short fall in donations in future. The reserves policy and larget level are reviewed by Iho trustees on an annual basis, together with any steps necessary lo align the actual level with the target over time. Going concern The trustees believe that there are no material uncertainties that call into doubt the charily's ability to continue ils activities. The accounts have therefore been prepared on the basis Ihat the charity is a going concern. Plans for Ihe future We are confident that our supporters will provide us with contributions at a level to support the objects of the charity. structure, governance and management Governing document The charity is controlled by its governing documant. a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Charity is registered with the Charity Commission. The Charity is organised so that the Directors and Trustees meet regularly lo manage its affairs. Recrultment and appointment of new Irustees All Directors of the company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named above seNed throughout tho year. The Board has the power to appoinl additional truste8s as it considers fit to do so. Grant and Donatlon Maklng Policy To act according to the charity's objects as detailed about in the "Constilutlon and Objects of the Charity" section. The trustees meat monlhly lo discuss the progress of the charity and future plans for Ihe coming months. The trustees make donations lo institutions Ihat are able to provide seNices lo Ihe community thal they feel unable or unqualified to provide, bul that fall within the objects of the charity. All grants and donations rnade must bo approved by the majority of the Ifustees, however, in almost all oGcasions, the trustees will not make a grant or donation if there is an objection by any of the Iruslees.
Shaarei Orah Limited Trustees, report For the year ended 28 February 2023 Related parties There were no related parties during the year {2022- None) Rlsk management The Iruslees regularly undertake a review of the major risks to which the charity is exposed, and systems designed to mitigate those rlsks are considered on an ongoing basis. There are two major risks that the trustees have identifies, as follows.. (a) Fall in the level of donations The level of donations is fundamental to the operatlon of the charity. Given that the charity is relatively new, the consistency of donations is of major importance. The trustees are making every effort to increase the number of donors by seeking support from the local community in an attempt to reduce their current reliance on a few key donors. The trustees also make every effort lo keep in regular contact with Ihoirdonors so Ihal they are able to see the difference that their conlributions are making. (b) Misappropriation of funds The control of funds is key lo any charity. As mentioned previously, the trustees meet monthly and discuss progress. This ensures that all expenses paid out from the charily are le911imate. The trustees decided that since they are having an independent examination, any misapproprialion of funds should also come to lighl at that time. Since the banking arrangements ensure that only the trustees have access to the bank account, this also redu$ risk of misappropriation. DECLARATION OF PUBLIC BENEFIT The Trustees have considered the Charity Commission's general guidance on public benefit in deciding what activities the charity should undertake. The 'Objectives and Aclivilies, section explains tho charitws activities which are open to anyone of the Orthodox Jewish faith. statement of responsibilities of the trustees The trustees (who are also directors of a charilable company for the purposes of company law) are responsible for preparing thè trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company law requires the Iruslees to prepare financlal statements for each financial year which giva a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charilable company for that period. In preparing these financial stalements, the Irustees are required to.. •Select suitable accounting policies and then apply them consistently •Observe the methods and principles in the Charities SORP •Make judgements and estimates that are reasonable and prudent
Shaarei Orah Limited Trustees, report For the year ended 28 February 2023 Stale whether applicable UK Accounllng Standards and slatements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial slalemenls Prepare the financial statements on the going concern basis unless it is inapproprlate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose wilh reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure Ihal the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and deleclion of fraud and olher irregularilios. statement as to disclosurè to our auditors In so far as Ihe trustees are aware: •There is no relevant audit information of which the charitable company's auditors are unaw8re' and •The truslees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Auditors Goldwins Limited were appointed as the auditors of Ihe ch8rilable compar7y during the year and have expressed their willingness to continue in that capacity. The Irustees, annual report has been approved by the trustees on signed on their behalf by., 14 Feb 2024 and E Sternlicht Trustee
INDEI PEI NDENT AUDITOR'S REPORT TO THE MEMBEI RS or SHAAREI ORAH LIMITII D Oplillon We l)avc aLEdiled Ilic fii)ancial sÉateiiicnls of Sl)#arei Oi'ali Liiniled (Ilie 'Chai'ily') for Ilie yeai. ei)d¢d 28, Febniary 2023 wl)icl) coiiiijrise Ilic Stalciiieiil of Fiiiaiicic11 Aclivilies, Ilie Balnncc Sliccl, slaleiiieiil of casl) floiys aiid tlie i'elaled iiotcs. Tlie fiiiaiicicll iei)oi'tiiig fi'aiiieiyoi-k tl)al lias beeii applied iii tlieii. pi'epai'alioi) is ai)plicable law and Uiiiled Kii)gdoiii Accoiiiilii)g Standards, including Finai)cial Repoi'liiig Siai)dai'd 102.. Tlie Fiiiancial Reporting Staiidard applicable in Ilie UK aiid Republic of Irelaiid Iuiiiled Kiiigdom Gciicrally Accepted Accounting Practi¢¢). Opiiiioii on fillnnclal slateineiits Iii our opiiiioi) the finaiicial slmlemciils.. give a li'ue aiid faii-viciv of Ilie slate of th¢ cliai'itable coiiii)any's affmii's Ms Rl 28 Febi'iiai'y 2023 and of ils iiicome aiid expeiidiliii'e foi. tlic yeai. tlien endcd.. Iiavc beei) pioi)erly pi'epared ii) ac¢oi'daiice iviili Unilcd Kingdoin Geiieially Acccpled Aecoiinliiig Pi'aclice,. nd Iiave becii pi'epared iii accoi'd1c nce ivitli the IcquiretTrieIits of tlie Coiiipanies Act 2006. Basis foi. opliiioii We coiidu¢led oui. alidil iii accoi'dai)cc will) Ii)lei'iiati0Iial Staiidards oil Aiidiling (UK) {ISAs (UK)) and ftpplicable law. Oiii. i'espoi)sibililies uiider Iliose standai'ds are fiirtl)ei' desci'ibcd iii the Aiidiloi s rcspoiisibililies foi. Ilie aiidit of Ilie fiiiaiicial slaleiiiciits scclioi) of oui. i'epoi'l. We air iiidependei)t of the Chai'ily iii accordancc iviili the eihical i'equireiiienls Ilial al'e I'elevaiit lo oui. aLidit of the fii)ancial slaleiiienls in the UK, includiilg Il)e FRC'S Eiliieal Siai)dai'd and ive l)ave fuifillcd oui. othei. eiliical responsibilitics in aecordanec iviili Ilies¢ i'eqiiii'eiiieiits. We believe tliat Ilie audit evidcncc we liave obtained is siifficienl ai)d appi'opriale to pi-ovidc a basis for our opinion. Coiiclusions i'elating to goiiig coiieerii In aiidiling the fiilaiicial stateiiienls, Ive liave coffticluded tliat tlie liuslees, use of Ilie goiiig con¢erii basis of accounting in Ilie prcpai'atioii of Il)c financial sta(eiiients is appi'opriate. Baled on Ihc ivork ive lillve peifon))ed, Ivc have not idei)lificd any ii)alerial uncei'tainties relating lo eveiils or conditions Iliat, ii)dividiially oi. collectively, iiiay cast sigi)ifieaiil dolibi on tlic el)arity's abllily lo conliiiiic as a going coiicei'n foi. a pei'iod of al leasl twelve iiionil)s froni wl)ei) Ilie fiii8n¢ial slaleiiients al'e aliihoi'ised foi. issue. OLlI' fCSPOtisibililies aiid tlie responsibililies of tlie dii'ectors ivitl) respect to goiiig conceim al'e dcsci'ibed in Ilie i'clcvant sections of Iliis repoi'l. Olhei. Inforillatioji Thc li'iistees aiE rcsponsible foi. tl)e oiliei. inforinalion. Tlie otlier infornialion coi))priscs thc infoi'niation included ii) tlic aniiual I'epoi't othei. Iliaii tlic fiiiancial statei))eiits aiid OLir auditoi s i'cport tlieieoii. Our opii)ioii 01) ilie fiiiaiicial stateiiients does not cover Ilie olliei. iiifoi'iiialion and, exc¢pt to tlie extent otlieiivise explicitly slated iii oui. i'eport, Ive do not expi'ess aiiy foiiii of assui'aiice concliision tliei'eon. In coiineclion willi our audit of the fii)an¢ial stateiiieiits, our iEspoi)sibility is lo l'ead ilie oilier infoi'iiialioti and, in doing so, eoilsider ivlieili¢i' tlie otliei. infoi'malioi) is i)iaterially inconsislenl willi tlie fiiiaiicial statenients or our knoivledge obtaiiied iii Ilie audit or otlierivise ic ppears to be iiiaterially misslaled. If ive ideiilify such i)ialerial in¢oiisistencies or appayent Iiiaterial iiiisslatemenls, Ive are requii'ed to deteriiiiiie wl)eiliei' tliere is a iiiateiial misslatei)ient in tlie fiiianeial slalemenls or a ii)atei'ial n)isstatemenl of Il)e other infoi'iiialioii. Ir, based on Ilie iyork ive liave pci'foii)ied, Ive concliide tliat tliere is a lii¢ltei'ial misstateiiieiit of tliis otlier ii)foJiiiation, Ive al'e i'eqiiii'ed to repoit that fact. We liave noil)iiig to report in tliis regard.
INDII PEI NDEI NT AUDITOR>S REPORT TO THE MEMBERS OV SHAARLI l ORAH LIMITED Opiiifioii 01) otliei. iiiattei. i)resci'ibcd by tlie Coinp811ies Act 2006 Iii oiir Oplliion, based oil Ilie iyoi'k undertakeii iii tlie eoiirsc of Ilie audit: tlic iIifori))alioii givei) in Ilic liiistees. i'ci)oi'l (iiicoi'i)oraling Ilie dii'ectOLE' I'cpoI-I) fortlic fii)ancial ycai. tor ivl)i¢l) tlie fiiiaiicial slal¢Iiieii15 al'e i)iei)ai'ed is consisteiit witl) Ilie fiiiaiicial slalei))ents' ai)d tl)e tiwslces, repoi't (incoii)oralii)g tlie dii'ectots, repoi'l) h&s been PlEpared iii accoi'daiice ivith applicable legal i'equii'¢i)Icnls. Maltei's on ivlii¢li ive l'e i'equii'ed to repoi't by exceptioi) In Ilie liglil of the ki)oivledge and iiiiderstaiidiiig of Ilic Cliarily ai)d its cnvii'oni))ei)l obtsiiiied iii Ilie coiii%e of Ilie audil, Ive Iiave not ideiilified iiiatcl'idl liiis8lalciiieiils in tlic Tiustees, Annual Repoi'l. We Iiavc i)oil)iiig to i'eport in ITspect of Ilic following inallei's ivliei'e Il)c Coi))paiiies Act 2006 rcquii'es LIS to ieporl lo yoii if, iii our opiiiioi): adcqiiale aOtIllg i'eeoirfs liave not becn kept or i'elurns adeqLllite for our audit vc llot been I'cccived li'oiii branclies i)ot visited by iis,. or Ilie financial slaleiiicnts are iiol in agi'eeiiieiit iviili Ilie a¢counting iecoi'ds and retiii'ns. or cei'tain disclosiii'es of Iruslccs, reniuneralioii spccified by laiy arc not ii)ade' or wc Iiave i)ol rcccived all Ilie iiiforiiiation aiid explaiiatioiis ive require for OLII. aiidil. Respoiisibilitics of tlie ti'iistees As explained Iiioi'c fully in Ilic TSleeS, Responsibilities Siatei))ent. tlie trustees (Ivllo al'e also the direcloi's of tlie cliariiable coi))i)any for Ilie puiyoses of conipaiiy laiv) al'e i'espoiisible foi. tlie prepai'atioi) of Ilie fiiiaiicial slalcmcnls and lor being satisfied Ilial Il)cy give a Ii'iie and fair view and foi. siicli inlci.nal coi)Ii'ol as tlicy deteii))ii)¢ is iiecessary lo ei18ble tlie pi'eparatioii of fiilancial slalei))ents tliat al'e fi'ce froin iiiaterial n)isstal¢iiient. wl)eil)cr due lo fraiid or eiyor. In preparing Ilic financial slatei))eiits, Il)e trustees al'e irsponsible for assessiiig tl)e Cliai'ity's ability to continue as a going coiicei'i), disclosii)g, as applicable, ii)alters itlated to going concern and iising the goii)g concci'ii basis of accounting ui)les8 tlic ti'uslees ciiliei. iiiteiid to liquidate tlic Cliarity oi. lo cease opei'alions, or l)av¢ iio realistic aliei'iialiv¢ but to do so. Our respoiislbllllies foi. tlle audit of tlie financial stateinents Our objectives air lo obtain I'casoiiable assurance abolit ivheiher the fii)aii¢ial slalcInei)Is as a ivl)ole c1lt fl'ee from i)iatei'ial misslatei))¢nt. Ivlietlicr due lo li'aud oi. ei'roi., and to issue an audiloi s r¢poiX tliat includcs oui. opiiiion. Reasoiiable assuixnce is a liigli level of assurance, but is iiot a guarantee tlial an audit conducted in accordat)cc ivitli ISAS (UK) Ivill alivays detect a inalei'ial niisslaleiiient ii,lieii it exists. Misstateiiiei)Is can arise fi'oii) fi'aud oi. ei'i'or and are coiisidei'ed n)alei'ial if, individually oi. iii the aggregate. tliey eould i'easoi)ably be expected to infliieiiee Il)e ecoiioiiiic decisions of iisers taken on tlie basis of Iliese fii)aiicial statenienls. li'reglilarities, including fraud, are iiistances of iioii-compliance with laivs and regulations. We design procedui'es in line iviili our i'esponsibililies, outlined above, to delecl iiiatei'ial misslalements in i'espect of iiYegulariti¢s, ineludiilg fi?Iid. The extent lo iyliicli oui. procediires al'e Capable of deleeling iri'egulai'ilies. iiieludii)g fi'aud al'e set out beloiv.
JNDEPENDENI. AUDITOR9S REPORT TO THE IIIEMBERS OF SHA1 l ORAH LIMITED Iii ideiitifyiiig aiid dSSessiiig risks of Iiiaterial iiiisslatciiici)t iii I'especl of ii'i'egiilaritics, iiiclLidiiig fi-aud aiid iioii-compliaiice willi laws ai)d regulations, oui. pi'ocedures iiicluded tlic folloiving.. We cjiquiitd of nianageiiiei)t. Ivliicl) ii)cluded obiaiiiiiig c111d rciTiciviiig suppoi'liiig docuineiilalioii, coiicei'niiig Ilic eliai'ily's i)oli¢ies 1< 1)d i)i'oceduics rclaliiig to.. ideiilifying, evaliiating, and complying iyiili laivs c211d rcgiilatioiis and ivl)eil)cr Iliey were awarc ot any iiislaiiccs of noii-¢oiiipliaii¢e' Dctecliiig aiid respoiidiiig lo Il)e I'isks of fraud ai)d ivlieilier iliey liave knoivlcdge of any acliial, siispccled, oi. alleged fi'aud. Tlie iiit¢i'iitil conti'ols establishcd to Iiiiligale risks related lo fi'aud or iioii-coinpliance vith laivs aiid regiilalions. Ve iiispe¢led Il)e iiiiilules ot iiicclings of Il)ose cl)arged ivitli govcmaiiee. Wc obtaiiied an undei'slaiidiiig of thc Icgal aiid I"egiilaloi'y frt1111cwoI'k tliat the cliai'ity opci'ales iii, fo¢iisiiig on tliose laivs aiid i'egulalioi)s Iliat Iiad a liiic tei'ial cffecl 01) the finai)¢ial slaleineiils oi. Iliat liad a fundaiiienlal effe¢l on tlic operalioiis of tlie chai'ily troni uiii. i)i'ofessional and sccloi. experieiic¢. We reviewcd ilie financial stateiiieiit disclosiii'es aiid Icsled Iliese lo suppoi'ling docuiiienlation to asse55 coii)pliai)ce witli applicable laivs ai)d rcgulalioii.g. W¢ i)erfoi'iiicd aiialylical i)I'occdLlI'es to ideiilify ai)y iiiiusual or iiii¢xp¢¢ted iElatioiidiips tliat may iiidicale i-isks of ii)atci'ial Iiiisstateii)ent duc to fi'aud. Iii addiEssing Ilie risk of fi'aud tlvougli Iiianageiiiciil ovei'i'ide of wiitrols, we Ic51ed Ilie appropi'ialeness of joui'iial enti'ics ai)d otlici. adjiislniei)ts, assessed wl)eilier Ilic judgeii)ei)Is Iiiade iii iiiakii)g accouiiliiig estiinates arc iiidicatiite of a potential bias aiid tested significant transaclioi)s Il)al al'e unusiial oi. Iliose outside Ilie noi'inal coui'se of biisiiiess. Because of Ilic inlierei)I liniitalions of ali audit, thci'c is a risk tlial ive ivill not deleel all in'egulai'ilies, incliiding Iliose leading lo a ii)aterial i))isslalemcnt in tlie fiiian¢ial statcIiieiits or noii-coi))plianc¢ ivitl) i'egulalion. The Yisk is also greatei. i'cgardiiig iiYeg411aritics occui'i'ing due to fi'aiid i'ailiei. Il)an emlr. as fi2ud involvcs inlenlioiial coiiccaliiieiil, forgery, collusion, oiiiissioii or Iiiisi'epi'ese211alioi). A fiiitlier description of oui. i'espoi)sibililies for Il)e audit of tlie fii)aiieial slalcinents is located oil Ilie Financial Repotxing Coiincil's wcbsile al.. Iivwiv.fr¢.oi'g.uldaudilorsi'esponsibilities]. Tllis description foLlllS pai'l of our auditoi-'s i'epoi'l. Use of oui. report Tl)is i'eport is n)ade solely lo tl)e cl)aYilable coiiii)any's mciiibei's, as a body, in uccoi'dance ivitli Cl)aptci' 3 ofpart 16 of tlie Coi))panies Act 2006. Oui. aiidit ivoi'k l)as been iindertaken so Iliat we i)iighi stal¢ lo Ilie cliai'ity's nicmbers Ilios¢ iii&tlei's ive al'e I'eqiiii'ed to slate lo tl)ein in an audilOI S i'epoit aiid for iio othci. puii)ose. To ilie lIest extent peiinitted by laiv, Ivc do iiol accept or assuiiie responsibilily to anyone oilier tlian Ilie cliai'ity and the ehai'ity's Iiiei)Ibcrs as a body. for our audit ivork, foi. tl)is r¢poit, or for tlie opinions ive l)ave foiii)cd. 1510212024 Ailthony Epton (Senior StAtutoi'y Auditor) for aiid on belialf of GoldiviIis Liiiiited Staliitoi'y Auditoi. Cliai'tei'ed Accoiiiitaiits 75 Mxygi'ove Road West HAlllPStead Loii(Ioll NW6 2KG
Shaarel Orah Llmlted Statement of flnanclal acilvliles (Incorporating an Income and expenditure accounrl For the ear ended 28 Februa 2023 2023 2022 Unrèstricted Fund Resirlcted Fund Total Fund Total Fund Note Income from: Donations and legacles Invesiments 1,243,741 .243.741 io 662,014 Total Income 1.243,751 1,243.751 662,015 ExpendSture on: Charitable aciivities Advancement and promotion of jewish educaiion and rellef of poverty 1,252,073 1,252.073 675,362 Total expendlture ,252,073 1.252,073 675,362 Net Income l (expendlture) for the year 18.3221 (8,322) 113.3471 Tiansfers between funds Net Income l {expendlrure) before other recognlsed galns and losses 18.322) <8,322) {13.347} Net movement In funds {8,3221 18,322) 113,347) KeconcSllatlon of funds.. Total lunds bTought foNard 36,676 36.676 50,023 Total funds carrled forward 28.354 28.354 36,676 All of the above resu115 are derlved from coiitinulng aciivliies. There were no oiher recognised galns or 1055es other than those stated above. Movemenrs in fuiid$ 4rÈ dlsclosed in Note 13 to the finanilal staternÉnts.
Shaarel Orah Llmlted Balance sheet Company no. 06807305 As ai 28 Februa 2023 2023 2022 Note Current assets: Debtors Cash at bank and In hand 9,000 25,729 37,486 34,729 37,486 Llabllltles.. Creditors-. amounts falling due within one year 6,37S 810 Net current assets I Illabllltle5) 28.354 36,676 Total assets less current Ilabllltles 28.354 36,676 Total net assets l (Ilab115tle5) 28,354 36,676 The fund5 Of the charlty: Unresiricted income funds.. General funds 28.354 36,676 Total unrestricted funds 28.354 36,676 Total charlty funds 28,354 36.676 The flnancial statemenrs have been prepared in accordance wlth the special provislons for small companles under Partl S of the Companles Act 2006. Approved by the trusiees on 14 Feb 2024 and signed on iheir behalf by E Sternlicht Trustee
Shaarel Orah LIMlted Statement of cash flows For the ar ended 28 Februa 2023 Note 2023 2022 Cash flows from operatlng actlvltles Net cash provlded by I (used In) operatlng actlvltles 111.767) {14,188) Cash flows from Investlng actlvltles: Dividends, interest and rents from Investments Net cash provlded by / {used In) Investlng actlvltles 10 Net cash provlded by l {u5ed In) flnanclng actlvltles Change In cash and cash equlvalents In the year (11.757) 114.1871 Cash and cash equivalents at the beginning of the year 37,486 51,673 Cash and cash equlvalents at the end of the year 25.729 37.486
Shaarel Orah Llmlted Notes to the flnanclal statement5 For the ear ended 28 Februa 2023 l Accountlng pollcles a) Basls of preparatlon The financial statements have been prepared in accordance with Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 effective I January 20151- (Charities SORP FRS 1021 and the Companies Act 2006. The charitable company meets the definition of a publlc benefit entity under FRS 102. Assets and liabilities are initially recognised ai historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. b) Golng concern The trustees consider that there are no material uncertainties about the charitable company's ability to continue a5 a going concern. The trustees do not consider that there are any sources of estimation uncertainty ar the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. c) Income Income is recognised when the charity has entltlement to the funds, any performance conditions attached to the income have been met. it Is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the fund5, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. For legacies, entitlement is taken as the earlier of the date on whlch either.. the charlty is aware that probate has been granted. the estate has been finalised and notification has been made by the executorls} to the charity that a distrlbutlon will be made. or when a dlstribution is received from the estate. Receipt of a legacy. in whole or in part. is only considered probable when the amount can be measured reliably and the chariiy has been notlfied of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate. and the criteria for income recognition have not been mei, then the legacy is a treated as a contingent asset and disclosed if material. Income received in advance of the provislon of a specified service is deferred until the criteria for income recognition are met. d) Donatlons of gSfts, servlces and facllltles Donated professional services and donated faclllties are recognlsed as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economlc benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 102), volunteer time is not recognised so refer to the trustees. annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basls of the value of the gifi to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic beneflt on the open market., a corresponding amount Is then recognised in expenditure In the period of receipt. e) Interest recelvable Interest on funds held on deposit is Included when receivable and the amount can be measured reliably by the charity- thls is normally upon notification of the interest paid or payable by the bank.
Shaarel Orah Llmlted Notes to the flnanclal statements For the ear ended 28 Februa 2023 l Accountlng pollcles (contlnued) Q Fund accountlng Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incomlng resources recelved or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. g) Expendlture and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activitie5 Wlth a fundraising Expenditure on charitable activities include5 the costs of delivering services, undertaken to further the purposes of the chariiy and their associated support costs. Other expenditure represents rhose items not falling into any other headlng Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Irrecoverable VAT Is charged as a cost against the activlty for which the expenditure was incurred. h) Allocatlon of support costs Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost relaled to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. l) Operatlng leases Rental charges are charged on a straight line basis over the term of the lease. J) Tanglble flxed assets Depreciation costs are allocated to activities on the basls of the use of the related assets In those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Depreciatlon is provided at rates calculated to write down the cost of each asset ro its estimated residual value over its expected useful life. k) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid nei of any trade discounts due. l) Cash at bank and In hand Cash at bank and cash in hand Includes cash and short term hlghly liquid investments with a short Maturity of three months or less from the date of acqui51tion or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.
Shaarel Orah Llmlted Notes to the flnanclal statements For the ear ended 28 Februa 2023 l Accountlng pollcles Icontlnued) m) Credltors and provlslons Creditors and provlsions are recognlsed where the charliy has a preseni obllgatlon resultlng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. n) Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured ai amortised cost using the effective interest Method. o) Penslons The charity does not operate a stakeholder pension scheme. 2 Detalled comparatlves for the statement of flnanclal actlvltles 2022 Total Unrestricted Restricted Income from: Donations and legacies Charitable actlvitles Investmenrs 662,014 662,014 Total Income Expendlture on: Raising funds Charitable activities -Advancement and promotion of jewish education and relief of poverty 662,015 662.015 675,362 675.362 Total expendlture 675,362 675,362 Net Income l expendlture before galns l {losses) on Net gains l (105ses) on investments (13.3471 (13.347) Net Income l expendlture Transfers between funds 113.3471 (13,347) Net movement In funds Total funds brought forward (13.3471 50,023 (13.347) 50,023 Total funds carrled forward 36,676 36,676
Shaarel Orah LlmSted Notes to the flnanclal statements For the ear ended 28 Februa 2023 3 Income from donatlons and legacles 2023 Total 2022 Total Unrestricted Restricted Donations 1,243,741 1.243,741 662.014 1,243,741 1,243,741 662,014 4 Income from Investments 2023 Total 2022 Total Unrestricted Restrlcred Investmeni income
Shaarel Orah Llmlted Notes to the flnanclal statements For the year ended 28 February 2023 5 Analysls of expendlture Charltable actlvltle5 Advancement and promotlon of jewish education and relief of poverly Support costs 2023 Toral 2022 Total Dlrect cost Grants and Donatlons Poverty Relief Holiday Grant Shaarei Orah Grants To Individuals Support costs Accoutancy Bank charges Audit fees 12.845 12,845 3,294 671,093 184,000 94,650 30.840 922.932 184,000 94,650 30.840 922,932 975 431 5.400 975 431 5.400 975 .245,267 6,806 6.806 16,806) 1.252,073 675,362 Support costs Total expendlture 2023 1.252.073 1.252,073 Total expendlture 2022 .107,107 1,107.107 The total expenditure £1 .2 52,073 was unrestricted 12022.. £675,362). Analys15 of expendlture (prlor year) Charltable actlvltles Advancement and promotion of jewish education and relief of poverty Support costs 2022 Total Dlrect Cost Grants and Donatlons Support C05t5 Accoutancy 3,294 671,093 3,294 671,093 975 975 674,387 975 975 675,362 Support costs 1975) Total expenditure 2022 675,362 675,362
Shaarel Orah Llmlted Notes to the flnanclal statements For the year ended 28 February 2023 Net Incomlng resources for the year This is stated after charging I crediting.. 2023 2022 Auditors, remuneration (excluding VAT).. Audit 4,500 Analysls of staff costs, trustee remuneratlon and expenses. and the cost of key management personnel The charily did not employ staff during the year12022'. Nil). The charity trustees were not paid or received any other benefits from employment with ihe charity in the year 12022.. Énil). No trustees received payment for professional or other services supplied to the charily {2022.. £nil). Trustees. reimbursement of travel and 5ubsisteftce costs is £NII Related party transactlons There are no related parly transactions to disclose for 202 3 12022: none). There are no donations from related parries which are outside the normal course of business and no restricted donations from related parties. Taxatlon The charitable company is exempt from corporatlon tax as all its income is charitable and is applied for charitable purposes. l O Debtors 2023 2022 Other debtors Loan repayment due 9,000 9,000 I I Credltors: amounts falllng due wlthln one year 2023 2022 Accruals 6,375 810 6,375 810
Shaarel Orah Llmlted Notes to the flnanclal statements For the year ended 28 February 2023 12 Analysls of net assets between funds General unrestrlcted Designated Restricted Total funds Current assets Current liabillties 34,729 16.375) 34,729 (6,375) Net assets at the end of the year 28,354 28,354 Comparative for analysis of net assets between fund5 {prior yearl General Designated Restricted Total funds Current assets Current liabilities 37,486 (810) 37,486 18101 Net assets at the end of the year 36,676 36,676 13 Movements In funds At the Incoming start of the resource5 & year gains Outgoing resources & losses At the end of the year Transfers Unrestrlcted funds: General funds 36,676 1,243,751 (1,252,073) 28,354 Total unrestrlcted 36,676 1,243,751 (1,252.073) 28,354 Total fund5 36,676 1,243,751 (1,252,073) 28,354 Comparative for movement in funds (prior yearl At the Incoming start of the resources & year gains Outgoing resources & losses At the end of the year Transfers Unrestrlcted funds: General funds 50,023 662,015 1675,362) 36,676 Total unrestrlcted 50,023 662,015 (675,362) 36,676 Total funds 50,023 662,015 (675,362) 36,676
5haarel Orah Llmlted Notes to the flnanclal statements For the year ended 28 February 2023 14 Reconclllatlon of net Income l (expendlture) to net cash flow from operatlng actlvltle5 2023 2022 Net Income l (expendlture) for the reportlng perlod (a5 per the statement of flnanclal actlvltles) Depreciation charges Dividends, interest and rent from investments (Increa5elldecrease in debtors Increaselldecrease) in creditors (8.322) (13,347) (io) (9.000> 5.565 1840) Net cash provlded by l (used In) operatlng actlvltles (11,767) 114.1881 15 Analysls of cash and cash equlvalents At28 February 2023 At l March 2022 Other changes Cash flows Cash in hand 37,486 111.757) 25,729 Total cash and cash equlvalents 37,486 111.7571 25,729 16 Legal status of the charlty The charlty is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £ l .